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Bitcoin (BTC) saw a sudden increase on December 18 to regain support at $ 3,500, triggering a new round of earnings among the major cryptocurrencies.
Market display from Coin360
The Cointelegraph and Coin360 price tracker data confirmed the unexpected reversal of the fortunes of Bitcoin, the largest cryptocurrency that had previously traded around the 15-month lows.
At the time of printing, BTC / USD stood at around $ 3.516, up 2.5% and a maximum increase of $ 260 in the last 24 hours. The same date of 2017 marks the second day of historical highs for the couple, with prices exceeding $ 20,000 on some exchanges.
Bitcoin 7-day price chart. Source: Cointelegraph
The spike's cause remains something mysterious, while some commentators have remained red-faced, Bitcoin Cash (BCH) supporter Calvin Ayre who told the British media shortly before he thought the BTC / USD would fall to zero in 2019.
"It does not do anything, and intentionally they are anti-scaling," he said.
Both strands of BCH – Bitcoin Cash ABC (currently known as BCH) and Ayre favored by Bitcoin Cash Satoshi & # 39; s Vision (BSV) – have realized the worst of all assets in the first twenty by market capitalization in recent days.
As reported by Cointelegraph, both have a significantly reduced price, while the price of BCH has been exceeded by Ethereum (ETH) for the first time on Monday.
Chart of prices in 7 days of Bitcoin Cash. Source: Cointelegraph
Elsewhere in altcoin markets, EOS (EOS) led the charge, managing an impressive 18% daily growth at the time of the press, followed by another surprise move by Dogecoin (DOGE) on 16% and Ripple ( XRP) at 10%.
The eyes will continue to focus on the price of Bitcoin, since its influence on altcoins will mean that current earnings may be short-lived.
In his latest analysis of the cryptographic market over the weekend, veteran trader Tone Vays expressed concern that a closing below the 50-month moving average would mean a downward spiral of $ 1300 or less.
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